Reference no: EM133099860

Question - A list of accounts and their balances of O'Neill's Psychological Services, at its year end July 31, 2021, is presented below:

Supplies $815

Unearned Revenue 1,150

Supplies Expense 6,055

Cash 6,475

Accounts Receivable 7,355

Accounts Payable 9,800

Rent Expense 10,770

Notes Payable 22,100

Salaries Expense 45,650

T. O'Neill, Drawings 57,700

Equipment 58,850

T. O'Neill, Capital 64,250

Service Revenue 96,370

Required -

1. Prepare a trial balance in financial statement order.

2. Prepare an income statement.

3. Prepare statement of owner's equity. (List items that increase owner's equity first.)

4. Prepare balance sheet.